The Assistant Client Account Manager (CAM) is responsible for developing and maintaining client relationships through proactive client communication and the coordinated delivery of services to individuals, families, trusts and foundations.
The Assistant/Associate CAM acts as a liaison between senior client account managers and all other service areas of the organization, including Client Tax and Financial Planning Department, Investments, Legacy Planning and Trust Administration, Alternative Asset Management Group, Philanthropic Advisory Services, Property and Casualty Advisory Services, Equity Risk Management and Custody.
• Regular client communication including responding to client and advisor inquiries.
• Support with client meetings as directed by Senior Client Account Manager.
• Preparation of client meeting presentation books. Create custom reports proactively and at client request.
• Document written and verbal communication with clients and their advisors in CRM.
• Complete financial paperwork from other institutions for clients.
• File correspondence and other documents in DMS.
• Work with Client Administration Team to open accounts and coordinate with outside agents the transfer of assets to Bessemer. Assist in preparation of account opening documentation and account profiles, obtain required approvals, and gather legal documents and tax cost information.
• Prepare Officers Committee account reports.
• Perform cash management functions using Workflow and Atlas in accordance with established account procedures and applicable fiduciary laws and policies.
• Review deeds, wills, trusts and establish necessary automated reminders, remittances, etc.
• Coordinate with Bessemer fiduciary counsel as needed to ensure administration is in accordance with governing documents.
• Work with CAM team in investment management activities including implementing investment objectives, rebalancing accounts, executing trades, monitoring asset allocation and investment performance and overseeing investment transition.
• Monitor daily overdraft report and work with account team to resolve overdrafts.
• Coordinate client requests for funds including regular remittances and disbursements.
• Prepare asset allocation simulation modeling for clients.
• Prepare initial and annual trust reviews. Prepare requests to SIDD committee for all discretionary distributions from trusts and for all special investments in trust.
• Prepare reports to Trust Builder for irrevocable insurance trusts (ILITs) make transfers to ILITs as required and pay life insurance premiums.
• Make required distributions from charitable remainder trusts (CRTs), charitable lead trusts (CLTs) and private foundations.
• Coordinate annual unitrust payments and private foundation grant payments with tax department.
• Process gifts to charity and family. Prepare and send Crummey letters as appropriate.
• Coordinate with tax department (or clients outside tax preparers) on reporting gifts to, and use of GST exemption on gift tax returns for irrevocable trusts.
• Prepare Annual Relationship Review.
• Other duties and responsibilities as assigned.
• Bachelor’s degree in a relevant field (Business Administration, Finance, Economics, Law, and Taxation) required. Masters preferred.
• two to three years related experience or equivalent combination of education and experience.
• Completion of Cannon Trust School or equivalent desirable. Certifications (CTFA, CFA or CPA) or advanced degree, MBA.a strong plus..
• Proficient in Microsoft Office Suite – Excel, Outlook, PowerPoint, Word.
Bessemer Trust Company - 17 months ago